Nestlé chairman and CEO Peter Brabeck-Letmathe has praised an “excellent” performance from the company’s food and beverage operations during the first quarter of the year.
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The company said today (23 April) that first-quarter sales from its food and beverage rose 7.1%, helping to push group revenue up 7.4%.
“These encouraging figures reflect the acceleration of our move towards nutrition, health and wellness across our main food and beverages brands,” Brabeck-Letmathe said.
Turnover reached CHF24.3bn (US$21bn) as the company’s Nestlé Nutrition business weighed in with sales growth of 10%.
Brabeck-Letmathe said Nestlé is confident that it will meet its organic growth target of 5-6% for the full year. He added: “The acquisition of Gerber has further accelerated the transformation process and will give Nestlé undisputed global leadership in nutrition, health and wellness.”
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By GlobalDataEarlier this month, Nestlé snapped up Gerber, the best-selling baby food brand in the US, for $5.5bn. The acquisition was part of Nestlé’s shift towards health and nutrition and comes after three nutrition-focused acquisitions in the last 12 months.
